St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1887-03-10
FINANCIAL.
New York.


NEW YORK, March 9.-Money on call easy
at 31&@41a per cent, last loan at 81; closing
offered at 2. Prime mercantile paper
soc. Sterling exchange dull, but steady at
S4.S41a for sixty-day bills and $4.871a for de-
mand. The effect Of the announcement of
the new railway deal upon stocks was to ad-
vance them at the opening, but the high fig
ures brought out heavy realizations, and the
Improvement lasted but short time. The
temper of the room was largely bullish but the
pressure to sell was too strong and the trad
ers soon changed and aided the general sag
ging of prices. The stocks interested in the
deal were the leaders off the market but
all Of them displayed more weak
ness than the general list. Western
Union was first in importance, and the quar-
terly statement being somewhat disappoint-
ing, and the issue of new stock for the series
issued some time ago was looked upon with
disfavor and the stock declined about per
cent. Richmond & West Point sympathized
closely with the movements in Western Union,
the rumored new issues of bonds to pay for
the Baltimore s. Ohio stock telling against its
The dealings in it however, were
much smaller than those in West
ern Union. Reading and Jersey Central
were also weak, the latter especially. Out
side Of the stocks above mentioned the
MOVEMENTS WE'RE SLIGHT
and unimportant, though St. Paul and Erie
were active. and Omaha and New England,
during portion Of the afternoon, were con-
spicuously strong. In the unlisted depart
ment Phoenix mining stock became feature,
BY reason of its activity, which is accounted
for by the settlement of litigation and by
purchases by foreign houses on arrange
ments for listing the stock. On the London
exchange the opening this morning was de-
cidedly strong, with advances over last even
ing's final figures ranging from "a to q per
cent. the latter in Western Union.
The stocks concerned in the Baltimore
&
remainder being quiet or dull. The advances
of opening were not maintained anu The
entire list soon showed q Sagging tendency.
After the first hour period of comparative
dizziness and steadiness was had, but the mar
ket soon gave way again. The sagging con-
tinued throughout the afternoon until near
p. NJ, when Western Union end Richmond g.
West Point displayed decided weakness and
the downward movement was accelerated.
the close being weak at about the lowest
figures reached. The attack upon the charter
of the Morris s. Essex, in the New Jersey leg
isature, caused special weakness in that
stock, and it shows the greatest decline of the
day. Green Bay was comparatively active
and weak. The entire active list, with
the exception of Erie, Omaha and Texas
Pacific, each of which adva need small frac-
ton, is lower this evening. Jersey Central is
Off 15s, Richmond & West Point ~. Western
Union ~, Lackawanna l, Morris s. Essex ~
per cent. Railroad bonds were dull to-day.
Sales aggregated 81, 026, GOO. Prices were gen.
orally heavy and fluctuations were narrow
and unimportant, and final prices generally
show fractional declines. Government bonds
were dull and steady. State bonds were dull
The total sales of stock to-day were 36S,7S9
shares, including:
DEL Lack. & w Ii, 500IN. J. Central. >. 1856
Erie. ~, $50 Reading. .72, S7S
Lake Shore. -. 1888 St. Paul. 81 ,2S4
Louis. s. Nash... 5,005ISt. Paul s. o.. 9.7S4
Northwestern. 10, 000tWest. Union. {. SO, $50